Chevrolet of Smithtown's Frequently Asked Bad Credit Car Loan Questions
- Q. Could I apply for an auto loan even though I've got bad credit?
- A. Absolutely! At Chevrolet of Smithtown, bad credit car financing is our focus. We partner with a network of lending agencies that focus on assisting people with low credit score purchase a automobile. Regardless of if you've been rejected before, we suggest that you fill out an application again with us.
- Q. Let's say I have a bankruptcy?
- A. The credit approval program at Chevrolet of Smithtown should get you qualified for a car or truck regardless of how far along you are in the bankruptcy process.
- Q. What if I have repossession in my history?
- A. At Chevrolet of Smithtown, we have had many purchasers that have had repossessions in previous years. Our business is supporting you, the consumer, to re-establish your credit and move past the difficulties you have experienced in the past.
- Q. What would happen if I'm disabled or on Social Security?
- A. Being on disability shouldn't prohibit your ability to receive financing. Social Security is recognized by finance companies as revenue and is in many cases used to determine how big of a loan you are eligible for.
- Q. What happens if I'm self-employed?
- A. Being self-employed in many instances is not an obstacle. On occasion, evidence of a source of revenue may not be required at all. If it is, providing verifiable income is the crucial element. You are able to use tax-returns, bank statements, or cancelled checks.
- Q. Suppose I've got a new job?
- A. Don't worry, the banks we work with at Chevrolet of Smithtown look at dozens of factors other than just time with your current employer. We recognize that everyone changes jobs now and then and we still have methods for getting you financed.
- Q. What happens if my trade-in has a larger balance when compared with my automobile may be valued at?
- A.Being "upside-down" in a trade is usually a large struggle for a lot of dealers as their cars are already priced above retail value. In our instance, we frequently purchase cars at a wonderful value specifically to make it easier for trading customers out of negative equity cases. Generally, in this instance we can trade you out of your upside-down trade-in while rolling over almost no negative equity.
- Q. Suppose I told you I don't have money to put down?
- A. At Chevrolet of Smithtown, we would like to meet with you anyway. You will see we've got a number of programs that permit you to put zero money down. Let us know how much you are dealing with and we'll attempt to match the loan package to your circumstances.
- Q. What would happen if I am a first-time buyer?
- A. Even if you have not yet had the ability to create a record of on-time payments, we are able to assist you in getting there and get you in the driver's seat while doing so.
- Q. Do you offer military financing?
- A. Yes, We have numerous Loan Creditors that've specialized in military member financing.
- Q. What happens if I possess an excellent credit score?
- A. We've got terrific packages for people with an excellent consumer credit rating including Credit Union Direct financing which provides some of the best interest rates in the community.
- Q. What would happen if I've got a trade-in?
- A. All trade-in cars or trucks are welcome at Chevrolet of Smithtown, running or not. We also are skilled in trading customers out of an adverse equity situation. In case you have a trade, we would wish to talk to you about it.
- Q. Is it possible to acquire a vehicle history report?
- A. Without a doubt. We suggest it at Chevrolet of Smithtown.
- Q. Can I acquire a copy of my credit report?
- A. Yes, however not from us. We're happy to show you your credit report and go over it along with you. Unfortunately, due to privacy laws, we simply cannot supply you with a physical copy of your report. We propose heading to annualcreditreport.com for a free copy of your credit report.
- Q. Precisely how much will my monthly payment be?
- A. There are many elements which go into figuring out monthly payments such as amount of purchase, interest rate, term, and down payment. With hundreds of banks, thousands of packages, and a wide selection of autos, your best option is to contact us with your spending budget and we'll see what we can make work for your unique case.
- Q. How long does the application process take?
- A. Filling out the credit application physically or online only takes a few minutes. After the application has been submitted, the bank may request additional information such as paystubs, phone bills, bank statements, or they may not request anything. Every bank and every program is different but we'll help you get everything completed as quickly as possible.
- Q. What should folks bring with them to try to get vehicle financing?
- A. You will need to have available the following documents: ID or Driver's License, Title, pay stubs or proof of income. You might also be asked to provide utility or phone bills, bank statements, or other similar documents.
